Exercise $18-7($Algo$)$ Contribution margin LO A$1$

A jeans maker is designing a new line of jeans called Slams. Slams will sell for $$340$ per unit and cost $$261\mathrm{.}80$ per unit in variable costs

to make. Fixed costs total $$61,500.$

Note: Round your answers to $2$ decimal places.

Compute the contribution margin ratio.

Compute income if $5,300$ units are produced and sold

Income